Ethereum Name Service Price Prediction: ENS Encounters a Resistance
Categories: US ETHERUM NEWS
The ENS/USD daily chart reveals the market price encounters a resistance around the trend line of the 14-day SMA indicator underneath the 50-day SMA indicator. The horizontal line is underneath the formation of trading candlesticks. And the bearish trend line above the SMAs shows the business activities feature within a descending triangular pattern until the present. The Stochastic Oscillators are a bit below the 80 range, trying to cross northbound. Presently, the ENS/USD market operation encounters a resistance around the trend line of the 14-day SMA to affirm the crypto may still trend downward if the price tends to surface in a range for long around the indicator’s value line. Buying opportunities will come up while price averages at a low point around the horizontal line drawn. Investors can begin to introduce some of their capital between $12 and $5 points. On the downside of the technical, it would be psychologically sound better that short-position takers needed to exercise patience toward getting a correctional motion when the price fails to breach northward and position above the trend lines of the SMAs. The ENS/USD market sellers have to solidify their stances below the $15 resistance level to ensure continuity in the bearish trend of the crypto transactions. ENS/BTC Price Analysis In comparison, ENS has not been able to swing upward against the trending capacity of BTC overly, running into several sessions. The cryptocurrency pair price encounters a resistance around the trend line of the smaller SMA. Variant candlesticks formed so far signed the trending outlook is in a range-bound trading zone. The Stochastic Oscillators are somewhat slantingly bending northbound at a range of 60. That shows the base crypto is on striving mote to push against the counter-trading crypto.